Essays on Reward Systems

1- What are the primary reasons many managers avoid or resist performance management? What do you believe is the greatest challenge for managers in managing performance? Performance management is a critical process for organizations involving a continuous identification, measuring, and development of performance by linking the performance of individuals to the overall mission of an organization (Aguinis 2). However, the process can be fraught with difficulties, particularly for managers with respect to the challenge of performance feedback and observational problems. Performance feedback can either be positive or negative and the difficulty for managers is that providing the corrective/negative feedback ...

Total compensation comprises a combination of monetary and non-monetary rewards offered to employees so as to motivate them to be more productive in the workplace. Motivating employees is also one way of retaining them at the organization and is, therefore, one of the objectives of the human resource management (Wilson 57). The results of a well designed and implemented total compensation include an enhanced performance at the individual and organizational level, employee loyalty and improved job satisfaction (Heneman 33). The Makey Company holds a belief that excellent customer service is an essential element for any business and holds this ...

The Three Basic Functions of Leadership

There is no consensus of view on the functions of leadership. This is due to the fact that description of functions depends on the general concept of leadership. Leadership roles are related to goal accomplishment and to the maintenance and reinforcement of a group. Functions in a given category are instrumental in achieving a given goal or goals of the group (Kekomuller, 2012). The three basic functions of leadership, therefore, are: setting goals, organizing and initiating appropriate actions. In setting goals, a leader is supposed to carry out a creative role of coming up with goals and policies to ...

Human Resource Management (HRM) refers to the practices and knowledge within an organization that is concerned with the organization’s primary responsibility and employment relations (Redman, & Wilkinson, 2009). As such, it is a discipline that is guided by numerous models that include Guest, Harvard, Warwick, Storey, and Fombrun models. The Guest model developed by David Guest contends that the HR manager is initially presented with specific strategies which then create a need for certain practices within the organization in order to achieve the desired outcome. It bears six aspects that include HRM strategy and practices as well as behavior, ...

Literature review of Global Employee Benefit

Employee’s benefit is an indirect reimbursement, which “include various types of non-wage compensation provided to employees in addition to their normal wages or salaries” (BLS Information, 2008). Examples of the benefits are following: disability income protection, employer-paid housing, health, dental and life insurance, disability income protection, retirement payments, daycare, sick leave, paid vacation, funding of education, any flexible work arrangements, and other social benefits. Nowadays Global companies are a complex mixture of native divisions with their own exclusive and sole benefits needs. Multinational company are to provide their employees benefits that promotes economy, development, technology, efficiency, and at ...

Human Resource Management

Introduction Human Resource Management is responsible for attracting, selecting, recruiting, placing, recognizing, engaging, retaining and rewarding people while developing anticipated organizational culture and leadership, as well as, ensuring compliance with national and international labor and employment laws. Mostly, small to medium organizations manage their HRM activities by outsourcing their human resource functions to specialized HRM firms. Other hires few HR professionals. However, larger business corporations uphold an all-inclusive HRM functional division that is characteristically dedicated to the specialized tasks such as strategic recruitment and selection, employee engagement, and development of functional leadership across the business undertakings (Bratton & Gold, 2011, ...

Ideally, an organization is a set of people who work together to achieve certain goals. There are many ways to get the organization functioning and make use of various management control measures to achieve the desired goals. Reward system is one such management control method which means to pay rewards or incentives to employees based on their performance. Although reward systems are introduced to serve multiple aims, the main aim however is to motivate and encourage the employees to perform better and beyond expectations. These rewards have to be externally competitive and must be in proportion to the market ...

Human Resource Management

Introduction Human resource management (HRM) is the process through which an organization interacts and guides its personnel so that they work together and achieve company objectives. The primary goal of this process is to set a target for the firm, build a plan for the organization, analyze data about staff members, train the company employees, and mentor them to fit in the enterprise. HRM can be traced back to the year 1950 when great scholars Drucker and McGregor saw that there is a need to have a vision and goal-directed activities in organizations. They also stressed that the management ...

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Scenario 1

Theories of team behavior that might assist GS in taking on his new role The position GS finds himself in is a tricky one, since he is tasked to implement a new service charter. In order to succeed, he has to perfectly understand several theories of team behavior. First, he should learn to develop and promote trust between the various players involved. Trust can only be enhanced if the workers in the organization are given the freedom to prosper and put their thoughts in work. It is also as a result of believing in the capabilities ...

Describe and critically evaluate the types of pay and reward systems a multinational company could adopt to remunerate expatriate managers.

Some of the major problems that may come across the way of expatriates while going abroad for the assignments include inter-cultural management, managing the social inclusion of expatriates in the host country, providing standard health benefits, security and education, utilities and incentives keeping the exchange rates, and national/international compensation scale in considering and also facilitating their re-entry within the home country after the completion of the assignment. Thus, the major concern for the multinational corporation is to find out ways that keep the expatriates motivate and retain for the optimal period of time (Reiche, 2011, n.d). There are some ...